Waterway Wealth Management LLC Sells 460 Shares of Eli Lilly and Company (NYSE:LLY)

Waterway Wealth Management LLC trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 50.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 447 shares of the company’s stock after selling 460 shares during the period. Waterway Wealth Management LLC’s holdings in Eli Lilly and Company were worth $345,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in LLY. CWA Asset Management Group LLC boosted its stake in Eli Lilly and Company by 11.9% in the 4th quarter. CWA Asset Management Group LLC now owns 6,794 shares of the company’s stock worth $5,245,000 after purchasing an additional 724 shares during the period. Centerpoint Advisory Group purchased a new position in shares of Eli Lilly and Company in the fourth quarter worth $514,000. M&T Bank Corp boosted its position in shares of Eli Lilly and Company by 0.7% during the third quarter. M&T Bank Corp now owns 266,822 shares of the company’s stock worth $236,389,000 after acquiring an additional 1,867 shares during the last quarter. Kentucky Trust Co purchased a new position in Eli Lilly and Company during the fourth quarter valued at $834,000. Finally, Cooper Financial Group increased its holdings in Eli Lilly and Company by 35.5% in the 4th quarter. Cooper Financial Group now owns 2,655 shares of the company’s stock valued at $2,050,000 after acquiring an additional 695 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on LLY. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Citigroup cut their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Barclays reduced their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Truist Financial increased their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Bank of America restated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,000.28.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $904.76 on Friday. The company has a market capitalization of $857.87 billion, a P/E ratio of 77.26, a P/E/G ratio of 1.40 and a beta of 0.42. The company’s 50-day simple moving average is $811.83 and its two-hundred day simple moving average is $848.85. Eli Lilly and Company has a one year low of $711.40 and a one year high of $972.53. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. As a group, equities analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company announced that its board has authorized a stock repurchase plan on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.50 per share. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.66%. Eli Lilly and Company’s dividend payout ratio is presently 51.24%.

Eli Lilly and Company Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.